With the recent impressive moves in Gold , I was wondering, what's next for the metal? (Considering that I just got past the premium on my recent purchases!)
I simplest way I thought of to predict the next move is to compare it to the last valid Gold bull market from 2008 to 2011, the numbers show that Gold gained approx 179.55% from Oct 2008 lows to ATH on Sep 2011. This sets an impressive $4,070 price target in the long-term.
I'm also expecting a period of consolidation (maybe 1-3 months) in between $1,790 to $1,920, followed by another parabolic breakout beyond $2,000.
I simplest way I thought of to predict the next move is to compare it to the last valid Gold bull market from 2008 to 2011, the numbers show that Gold gained approx 179.55% from Oct 2008 lows to ATH on Sep 2011. This sets an impressive $4,070 price target in the long-term.
I'm also expecting a period of consolidation (maybe 1-3 months) in between $1,790 to $1,920, followed by another parabolic breakout beyond $2,000.
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Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.